Top Ships (NASDAQ:TOPS) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Top Ships Inc. (NASDAQ:TOPS) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.60 and traded as low as $0.8623. Top Ships shares last traded at $0.8910, with a volume of 180,355 shares changing hands.

Top Ships Stock Performance

The stock’s 50-day moving average is $1.60 and its two-hundred day moving average is $3.54. The company has a current ratio of 0.63, a quick ratio of 0.61 and a debt-to-equity ratio of 1.78.

Institutional Investors Weigh In On Top Ships

An institutional investor recently raised its stake in Top Ships stock. Cetera Investment Advisers lifted its position in Top Ships Inc. (NASDAQ:TOPS) by 38.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,179 shares of the shipping company’s stock after buying an additional 4,185 shares during the period. Cetera Investment Advisers owned approximately 0.33% of Top Ships worth $80,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 6.72% of the stock is owned by institutional investors.

About Top Ships

Top Ships Inc, incorporated in the Republic of the Marshall Islands and trading on NASDAQ under the symbol TOPS, is a global dry bulk shipping company. The firm specializes in the transportation of commodities such as iron ore, coal and grains and operates a fleet of Panamax, Kamsarmax and Capesize vessels. Through a mix of long-term time charters and spot charters, Top Ships serves a diversified customer base in the bulk shipping market.

Since its founding, Top Ships has pursued a strategy of fleet growth via acquisitions of second-hand vessels, aiming to capitalize on favorable market cycles.